should i remove this dispute?

[biturbomunkie]

hi folks! first of all, i must say that this site is awesome! in the past few days, i've learned a lot about managing credit from this forum and SW. thanks to you guys, AX gave me a CLI today w/o hitting the luv button! =)

now i've got a question - almost two years ago, i filed a dispute with EX cos i thought that the CL of my world MC was not being reported correctly (now i know that no CL CC = no CL reported). i don't think EX has done anything since i never got any response from my CCC or EX. having read this forum; however, i'm worried that EX will suddenly decide to "investigate" and put a FA on the account, or do something that could affect my credit. i called EX twice to have the dispute removed. the first lady i spoke to told me that EX can't remove anything. she said not to worry since if no action was taken after 45 days, the dispute should "fall off." the second lady i spoke to told me that only my CCC can remove the dispute. when i called my CCC, i was told to send a letter to its dispute department and explain the situation.

while i don't mind writing CMRRR letters to my CCC and EX, i'm afraid that they would assume that i want to file a dispute (as my CCC rep did on the phone) and put a FA on the account. on the other hand, i'm afraid that one of the CRAs would put a FA on my account down the road (the dispute is shown on all 3 CRAs' reports now).

it's been almost two years and i don't think the dispute is affecting my score. should i even bother or just let it be?

[Anonymous]

It could effect your score.....the TL should be removed from the scoring while it is disputed.  This account IF not being counted and it is an old account....will not be counted in your age.

I would not call the CRAs or the CCC......Send a letter stating that you pulled your CR and see that a disput is pending......I did not file a dispute     please see that it is removed from my CR.

At the TOP of the letter  * This is NOT a dispute*     fax it or mail it CMRRR

[Anonymous]

WOA! wait, so if an account shows "consumer disputes this account information" it is not part of your score? I am lost!

I have 6 accts that have showed in dispute for over 4 months now, but my score never went up.

Can you elaborate this in baby step terms?

[Anonymous]

Scores go by CC CL & UTIL.and length of history.....so if you file a dispute on the CC....it should be removed from the scoring........which means that you lost the CL  the UTIL (this hurts if the bal $0) and history.

When the dispute is completed the UTIL & everything is back in play!

This is why some people see a drop in scores when in dispute.

I am not saying that you are being effected by this.....I have no way of knowing!! But it might be.

I had 1 like that & didn't know that it might be bringing down my scores. I sent a letter when I was told about it & my scores increased 15 points. The disput was showing for 3 years.

Message Edited by HappyDays on 05-09-2008 11:13 PM

Message Edited by HappyDays on 05-09-2008 11:14 PM

[biturbomunkie]

thanks for advice HD. did you send the letter to your CCC or to the CRA? if CRA, did you send letters to all three of them?

Message Edited by biturbomunkie on 05-09-2008 11:23 PM

[Anonymous]

OH CRAP!!!!!! you mean my score can go lower then a 530 if they change the comments and remove the dispute comment? GOOD LORD!!!!!!!!!!!!!!!!!!!!

[Anonymous]

It's a rotten game, indeed.

[llecs]

biturbomunkie wrote:

now i've got a question - almost two years ago, i filed a dispute with EX .....

Do nothing. Those comments have no impact at all on your score.

Whenever you dispute, creditors, esp. CAs, will put that comment on there. That comment has no impact on your score and there is no dispute. If it really bothers you, you could send a letter to your CC and ask them to change or delete that comment, but it has no impact.

You can also verify that your card's history is factored into your score. You take the avg. age listed in your CR (from this site, and if listed) and do your own spreadsheet calculating your avg. and compare.

Message Edited by llecs on 10-28-2008 02:15 PM

[Anonymous]

"Do nothing. Those comments have no impact at all on your score."

Really? 

I was coming on here to see if anyone could explain this to me. I know someone who sent in a dispute to EQ about a 6yr old charge-off account, the account was NOT removed and showed a reflection of 'consumer disputes this account information' notation ....and POOF, an increase of 68 points!!!!!

So the comment doesn't have any impact? how can it not? has this happened to anyone else?

[llecs]

---

kashl wrote:

"Do nothing. Those comments have no impact at all on your score."

Really? 

I was coming on here to see if anyone could explain this to me. I know someone who sent in a dispute to EQ about a 6yr old charge-off account, the account was NOT removed and showed a reflection of 'consumer disputes this account information' notation ....and POOF, an increase of 68 points!!!!!

So the comment doesn't have any impact? how can it not? has this happened to anyone else?

---

As you can see, I butchered my comments above from last May. I'm learning everyday!

The comments do have an impact. They can be caused by a dispute or even something as simple as a GW. When the comment is there, the financial components are removed from scoring (balance, CL, util, etc.) and all other info remains while the account is read as a dispute (history, mix, lates, etc.)

At the time I had posted that, I had that comment appear on a CA account and there was no score change. And it is true that the score won't change when this happens because a paid CA is just as harmful as an unpaid CA. However, in a case like yours, maybe you had a CC and the balance and limit was removed thus freeing up your overall utilization causing a significant increase. Just guessing. What type of account was it?